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Sri Lanka says it has reached an agreement with the Exim Bank of China on key terms and principles for restructuring its debt, a key step toward unlocking a second instalment of a $2.9 billion ...
The trade agreement is commonly brought up as an example of strong ties between the two nations. In January 2022, during his visit to Sri Lanka, Chinese Foreign Minister Wang Yi pledged to further develop bilateral relations between the two countries, "carrying forward the spirit of the Rubber-Rice Pact," noting that China has provided a large ...
The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
COLOMBO (Reuters) -Sri Lanka is asking international bond holders to take a 30% haircut and is seeking similar concessions from investors in its domestic dollar-denominated notes as it seeks to ...
A Malaria eradication policy of 1946 had cut the death rate from 20 per thousand in 1946 to 14 by 1947. Life expectancy at birth of a Sri Lankan in 1948 at 54 years was just under Japan's 57.5 years. Sri Lanka's infant mortality rate in 1950 was 82 deaths per thousand live births, Malaysia 91 and Philippines 102. [65]
Debt-stricken Sri Lanka signed a trade pact with Thailand on Saturday in a bid to boost trade and investment as the Indian ocean island nation is struggling to recover from its worst economic ...
On 7 March 2023, the rupee gained 0.5% to trade at 250.8 per dollar, registering a 14% increase after the announcement by the IMF that it will finalize a $2.9 billion bailout for Sri Lanka on 20 March and receiving assurances from China that it will assist in the country's debt restructuring efforts.
Sri Lanka's overseas bonds extended gains after the debt agreement was officially confirmed, with longer-dated notes rising as much as 1.6 cents on the dollar to just over 50 cents at 1213 GMT ...